CT HB05231

Requires sellers of residential property (1-4 dwelling units) to provide a written condition disclosure report to prospective purchasers prior to execution of any binder, contract, or lease with purchase option, effective January 1, 2017.

Exempts certain transfers including co-owner transfers, family transfers without consideration, court-ordered transfers, newly-constructed property, transfers by government entities, foreclosure-related transfers, and properties subject to contracts entered before January 1, 1996.

Mandates the Commissioner of Consumer Protection prescribe a disclosure form by January 1, 2017 that includes information on municipal assessments, leased items, historic district designations, environmental matters (lead, radon, subsurface sewage), underground storage tanks, community dues, and smoke/carbon monoxide detectors.

Requires seller certification of disclosure accuracy, buyer acknowledgment of disclosure receipt, and statements that the disclosure is not a warranty, not a substitute for inspections, and does not relieve real estate brokers of their disclosure obligations.

Directs the Commissioner to distribute the form to town clerks, real estate division, realtors associations, and the public, with any material changes to the form requiring General Assembly approval.